Enero hovers at $30m
The market capitalisation of Enero – the marketing company formerly known as Photon Group – has finished the week near to a low for the year after finishing 2012 with half year revenues of $67.8m and EBITDA profits of just over $2m, according to results announced on Friday.
The numbers are down from revenues of $139m in the same period the year before, or $75.1 taking into account only companies still within the group.
The company’s share price of 0.35 values it on the ASX as just $29.96m – well below the likely break up value of its assets which include PR agency Frank, Hotwire PR, Naked Communications, ad agency BMF and consultancy The Leading Edge. The valuation of the company is up fractionally on the start of the year but less than half that of 12 months ago.
The company said particular issues were the loss of CommBank as a retained client for BMF and difficult conditions for Naked. Because of writedowns the company declared a net loss of$77m
Enero hovers at $30mThe market capitalisation of Enero – the...
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